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Economic development minister says Russia has good quality cheese despite sanctions

June 06, 16:27 UTC+3 BERLIN
The minister has called for German entrepreneurs to invest in Russian business, saying that the workforce in Russia is currently cheaper than in China and stocks have plunged
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© Egor Aleev/TASS

BERLIN, June 6. /TASS/. The information reported by certain German media about the lack of good quality cheese in Russia due to the sanctions regime between the Russian Federation and the European Union (EU) contradict the reality, the Minister of Economic Development Alexey Ulyukayev said in an interview with German Frankfurter Allgemeine Zeitung published on Monday.

"Those reports are not correct. Please, come to Moscow and see. Obviously there are no specialty cheeses like parmesan but you can find good quality cheese made in Russia in stores," he said.

The minister also called for German entrepreneurs to invest in Russian business, saying that the workforce in Russia is currently cheaper than in China and stocks have plunged. "Each euro invested will multiply within several years," he said.

Western sanctions no longer have huge macroeconomic consequences

Though Russia is not happy with the economic sanctions imposed by western countries the restrictive measures no longer have serious consequences for the Russian economy, the minister noted.

"We’re not happy with the sanctions but they have no serious macroeconomic consequences. However, ‘trust’ is the key word for the economy. How can we do trade if we do not trust each other?" he said.

When asked to comment on the potential lifting of restrictive counter measures that Russia imposed in response to western sanctions (food embargo) he said: "If one side has a free will the other side will also have it.".

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